Money or Wealth - Deepstash

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Money or Wealth

nateliason.com

Naval Ravikant

"Wealth is having assets that earn while you sleep. Money is how we transfer time and wealth."

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Most jobs are purely money generation, and have little to do with wealth. Generating wealth is an entire different ball game than earning money, which you can easily do by learning a few in-demand skills, and taking up a job or freelance work.

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  • Creating wealth means a lot of expenses initially, and is a risky proposition.
  • A decent number of startups go bust, with the founders going bankrupt. They would have earned more just doing consulting or freelance work, but they chose to ‘burn’ money instead, with a...

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The secret sauce to create wealth while keeping your boat afloat is to balance the two forces at play, the force of wealth creation and the force of money or income generation.

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  • A side hustle is when you continue to earn money, putting food on the table, and from your savings and the free time you have, build something that can have some value much beyond the time and money it took to build. Example: You can use your late evenings and weekends writing a book or...

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Another way is to devote 70 to 80 percent of your time in your side hustle(now your main work project) while leaving aside some time in a week to work for money to cover your basic expenses, probably some freelance gig work, giving you a safety net.

The day job is then your passion ...

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